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The State of Minnesota maintains the homestead program for residents who own and occupy their home or have a qualifying relative who occupies the home called the Homestead Market Value Exclusion.
The Senior Citizens Property Tax Deferral Program allows property taxpayers who are 65 years or older, and whose total household income is $96,000 or less, to defer a portion of their homestead property taxes until some later time.
Senior Citizens Property Tax Deferral Program This program allows people 65 or older to defer a portion of their homestead property taxes and is also administered by the State of Minnesota.
Some of the most common tax-exempt property types are: Churches or places of worship. Institutions of public charity. All properties used exclusively for public purposes, including public hospitals, schools, burial grounds, etc.
You may qualify for homestead if you answer yes to any of these statements: You are a Minnesota resident. You own the property in your own name ? not as a business entity. You live in the property year-round. You or your property co-owner have a social security number or an individual taxpayer identification number.